Job Summary
- Lead the AML CDD, Liabilities Operations to support end-to-end client onboarding, including the performance of CDD reviews during onboarding, periodic or even trigger to mitigate the sanctions, money laundering, client tax compliance risks, whiling aspiring to deliver superior client experience through digitization and process streamlining for WRB segment
Strategy
- Appraise and contribute to the development of the Bank’s strategic plans.
- E2E ownership of the client onboarding journey to drive AMLCDD quality, client experience and operational efficiency, with an aspiration to deliver the best consumer digital onboarding experience.
- Align the AML CDD risk and liabilities onboarding operations strategy of the function with business strategy and risk appetite and oversee its execution.
- Effectively deliver the strategic initiatives on digital onboarding and embedding new technologies for eKYC and faster TAT.
- Embed principles of Right Shoring as part of the operational strategy including the following:
- Oversight and supervision of the Centre of excellence
- Proper documentation of implementation plan and process, oversight of timeliness and quality of activities performed at the Centre of excellence
- Review of Key risk indicators and assessment of Residual Risk
- Training of staff at Centre of excellence on processes and regulatory requirements
- Ongoing dialogue with country regulatory compliance, environment scan for any new regulatory consultations/ directives, completion of a gap analysis/ business impact assessment and implementation to comply with such consultations/ guidance or directives.
- Interface with Country Business and COE for any escalations, remediations
- Support to strengthen the Organisation’s risk culture and accountability and help reinforce the defence line up.
- Support to enhance Priority, Affluent and Private business as best in class CVP and Support to deliver superior client journeys
- Support Personal Banking agenda with Digital led model.
- Embed innovation, digitisation and New ways of working by defining and actioning future state operating model
Key Responsibilities
Business
- Define the strategic intent and agenda for the AML CDD operations and Liabilities onboarding operations function.
- Communicate to the Business the strategic intent and collective agenda for the Function.
- Provide information, guidance, best practice and expertise to ensure that the team’s operations align with the business strategy
- Maintain and develop AML CDD and Liabilities operations capabilities and skills to meet ongoing business needs and plans – awareness and understanding of the wider business, economic and market environment in which the Group operates.
- Ensure the AML CDD Risk Management framework is effectively embedded and communicated across the business segments and lending products.
- Develop effective AML CDD risk management strategies and timely deploy these strategies across products and channels
Processes
- Lead to develop, deploy and optimize country Liabilities Onboarding and AML CDD strategy and processes.
- Develop a robust capacity planning, regular MI reporting and policy governance framework to support CPBB Business
- Good understanding of Group AML CDD Policy and Process Standards, ICDD/eCDD/GNS platforms as well as external regulatory requirements.
- Run day-to-day operations and lead its team by example. This requires keeping track of performance metrics, taking corrective actions, analysing bottlenecks and implementing solutions that bring process performance to the next level. Examples of critical success metrics would be improving CDD Overdue rate, Liabilities onboarding TAT etc.
- Ensure effective management of AML CDD / operational risks within the Function and compliance with applicable internal policies, and external laws and regulations. Identify and report all weaknesses inherent in the standard controls.
- Lead the development of the design, management and adherence of key operating controls and levers that improve end to end operational efficiency and customer experience.
- Ensure capacity is adequate to support the processing, and the linkage between capacity planning, volumes and expenses remains robust at all times.
- Work with Business Partners, Product Partners and Risk team members to optimize Strategy and Processes, to deliver better client experience through operational efficiency while reducing unit cost.
- Ensure AML CDD KPIs are effectively managed and handle escalations/process breaches
- Help the team improve their efficiency in processing applications and conducting CDD reviews through A3s and agile working approach.
- Responsible for managing GBS/GBA team supporting the onboarding and CDD related activities.
- Effectively manage E2E process archival and document management guidelines for Liabilities & AML CDD operations.
Skills and Experience
People & Talent
- Build bench strength and people development plans through adequate training, capacity and succession planning, upskilling the team to uplift their job knowledge with critical functions to build economy of scales.
- Lead through example and build a risk culture within the function and across frontline.
- Embed within the team Agile and New Ways of Working.
- Ensure the provision of ongoing training and development of people and ensure that holders of all critical functions are suitably skilled and qualified for their roles.
- Employ, engage and retain high quality people, with succession planning for critical roles.
- Responsibility to review team structure/capacity plans.
- Set and monitor job descriptions and objectives for direct reports and provide feedback and rewards in line with their performance against those responsibilities and objectives.
- Drive a self-improvement culture.
Risk Management
- Take responsibility for understanding the risk and compliance requirements of this role.
- Support WRB Business to uphold the integrity of risk/return decisions, by challenging business and control function heads to demonstrate that risk origination and control decisions are properly informed and consistent with strategy and risk appetite.
- Help strengthening the organisation’s risk culture & accountability and reinforce the defence line up
- Contribute to a culture in which all stakeholders feel safe to raise concerns and where risk and compliance matters are addressed, and misconduct appropriately dealt with.
- Ensure risk identification, measurement, escalation and mitigating capabilities are built in the function which are objective, consistent and compliant with applicable regulations
- Obtain assurance regarding the effectiveness of all process and controls. Understand and comply with applicable laws and regulations.
- To comply with the bank’s requirements of AML, CDD and all policies related to the group reputation risk.
- Relevant DOI/Procedure/Process Notes are checked before processing and/or approving a request, in case of any exception the same is pended/rejected and reported.
- Ensure various type of risks are being actively prevented and detected in a timely manner
Governance
- Maintain a good understanding of the requirements relevant to the role and ensure that these are well understood reflected in internal procedures.
- Maintain and open and cooperative relationship in dealings with Second Lind and third Line.
- Support the Risk owners to ensure business heads and all risk control owners understand and accept their risk management responsibilities.
- In the event of regulatory breaches, policy breaches or where credit appetite have been breached, ensure senior management are informed and that actions are taken quickly to remediate.
- Identifying and reporting all exceptions on non-compliance with standard controls
- Service level are to be checked and monitored and ensure there is no breach.
- Participate and contribute in relevant Country governance forums and committees
- Ensure outsourcing arrangements related policies and procedures are fully complied in-country
Regulatory & Business Conduct
- Display exemplary conduct and live by the Group’s Values and Code of Conduct.
- Take personal responsibility for embedding the highest standards of ethics, including regulatory and business conduct, across Standard Chartered Bank. This includes understanding and ensuring compliance with, in letter and spirit, all applicable laws, regulations, guidelines and the Group Code of Conduct.
- Lead the Liabilities Onboarding & AML CDD for SG/ ASA WRB Onboarding to achieve the outcomes set out in the Bank’s Conduct Principles: Fair Outcomes for Clients; Effective Financial Markets; Financial Crime Compliance; The Right Environment.
- Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.
Key stakeholders
- Head, WRB and the Management Team (MT)
- Head, SnT, WRB SG
- Head, BRM, WRB SG
- Head, CFCC, WRB and the team
- Head, Compliance, WRB and the team
- Group Head/COO, Client Onboarding & SME Banking, Global Head, Lending & Risk Operations, Fraud Risk Management and their MTs
Our Ideal Candidate
- 15+ years’ experience in banking /financial institution in Client Due Diligence (CDD), Anti-Money Laundering (AML), Compliance and Operations within the financial service industry
- Exposure in Existing & Emerging Regulatory landscape
- Operational efficiency and Customer experience
- Ability to design and implement policies
- Experience in Change programs / projects
- Strong Stakeholder & People management
Role Specific Technical Competencies
- Banking experience
- AMLCDD knowledge
- People Management experience
About Standard Chartered
We're an international bank, nimble enough to act, big enough for impact. For more than 170 years, we've worked to make a positive difference for our clients, communities, and each other. We question the status quo, love a challenge and enjoy finding new opportunities to grow and do better than before. If you're looking for a career with purpose and you want to work for a bank making a difference, we want to hear from you. You can count on us to celebrate your unique talents and we can't wait to see the talents you can bring us.
Our purpose, to drive commerce and prosperity through our unique diversity, together with our brand promise, to be here for good are achieved by how we each live our valued behaviours. When you work with us, you'll see how we value difference and advocate inclusion.
Together we:
- Do the right thing and are assertive, challenge one another, and live with integrity, while putting the client at the heart of what we do
- Never settle, continuously striving to improve and innovate, keeping things simple and learning from doing well, and not so well
- Are better together, we can be ourselves, be inclusive, see more good in others, and work collectively to build for the long term
What we offer
In line with our Fair Pay Charter, we offer a competitive salary and benefits to support your mental, physical, financial and social wellbeing.
- Core bank funding for retirement savings, medical and life insurance, with flexible and voluntary benefits available in some locations.
- Time-off including annual leave, parental/maternity (20 weeks), sabbatical (12 months maximum) and volunteering leave (3 days), along with minimum global standards for annual and public holiday, which is combined to 30 days minimum.
- Flexible working options based around home and office locations, with flexible working patterns.
- Proactive wellbeing support through Unmind, a market-leading digital wellbeing platform, development courses for resilience and other human skills, global Employee Assistance Programme, sick leave, mental health first-aiders and all sorts of self-help toolkits
- A continuous learning culture to support your growth, with opportunities to reskill and upskill and access to physical, virtual and digital learning.
- Being part of an inclusive and values driven organisation, one that embraces and celebrates our unique diversity, across our teams, business functions and geographies - everyone feels respected and can realise their full potential.
Recruitment Assessments
Some of our roles use assessments to help us understand how suitable you are for the role you've applied to. If you are invited to take an assessment, this is great news. It means your application has progressed to an important stage of our recruitment process.
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